Kuldeep Kumar Conatractors, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against NBCC (India) Limited, the corporate debtor, for a default of INR 4,29,98,630/-. The corporate debtor contested the application, arguing that the debt amount was inflated by including interest, that the debt was below the pecuniary threshold of Rs. 1,00,00,000/-, that the claim was barred by limitation, and that a pre-existing dispute existed regarding the quality of work. The Adjudicating Authority considered the arguments of both parties.
Kuldeep Kumar Conatractors (Operational Creditor) filed an application against NBCC (India) Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of INR 4,29,98,630/-. This amount included a principal of INR 3,75,00,000/- and interest of INR 54,98,630/-. The debt arose from a contract awarded to the Operational Creditor for construction work at CISF Group Head Quarter at Allahabad. The Corporate Debtor argued that the debt was inflated by including interest, that the actual debt was below the threshold of INR 1,00,00,000/-, that the claim was time-barred, and that there was a pre-existing dispute regarding the quality of work. The Corporate Debtor also pointed out that the Operational Creditor had approached multiple
…Sign in to view the parties.
NBCC awarded the contract to Kuldeep Kumar…
Kuldeep Kumar Conatractors stated to have…
Kuldeep Kumar Conatractors, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against NBCC (India) Limited, the corporate debtor, for a default of INR 4,29,98,630/-. The corporate debtor contested the application, arguing that the debt amount was inflated by including interest, that the debt was below the pecuniary threshold of Rs. 1,00,00,000/-, that the claim was barred by limitation, and that a pre-existing dispute existed regarding the quality of work. The Adjudicating Authority considered the arguments of both parties.
Kuldeep Kumar Conatractors (Operational Creditor) filed an application against NBCC (India) Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of INR 4,29,98,630/-. This amount included a principal of INR 3,75,00,000/- and interest of INR 54,98,630/-. The debt arose from a contract awarded to the Operational Creditor for construction work at CISF Group Head Quarter at Allahabad. The Corporate Debtor argued that the debt was inflated by including interest, that the actual debt was below the threshold of INR 1,00,00,000/-, that the claim was time-barred, and that there was a pre-existing dispute regarding the quality of work. The Corporate Debtor also pointed out that the Operational Creditor had approached multiple
…NBCC awarded the contract to Kuldeep Kumar…
Kuldeep Kumar Conatractors stated to have…